Latest news with #KhalidAlMalik
Arabian Business
15 hours ago
- Business
- Arabian Business
636 luxury villas coming to Dubai Islands as Nakheel awards $708m contract
Nakheel has awarded a contract worth AED2.6bn ($708m) to Fibrex Contracting for the construction of the Bay Villas project at Dubai Islands. The landmark development will feature 636 luxury units across five distinct property types, marking Nakheel's latest addition to Dubai's expanding portfolio of premium waterfront communities. This new contract builds on Nakheel's longstanding relationship with Fibrex Contracting, following their previous collaboration on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC). Nakheel awards Dubai Islands contract Khalid Al Malik, CEO of Dubai Holding Real Estate, said: 'Our partnership with Fibrex Contracting marks a key milestone for Bay Villas, a landmark project that underscores our commitment to shaping Dubai's future through elevated spaces that residents can proudly call home. 'This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.' Sufyan S. Saleh, Group Managing Director at Fibrex Contracting, said: 'We are committed to delivering this flagship development on time, while adhering to the highest industry standards. 'Through advanced construction technologies, specialised in-house capabilities and our trusted supply chain network, we are well-equipped to bring this waterfront community to life.'
Emirates 24/7
17 hours ago
- Business
- Emirates 24/7
Nakheel awards AED2.6 billion contract for Bay Villas project in Dubai
Nakheel, a member of Dubai Holding Real Estate, has awarded a contract worth AED2.6 billion to Fibrex Contracting for the construction of the Bay Villas project at the Dubai Islands. Featuring 636 luxury units across five distinct property types, Bay Villas represents Nakheel's newest waterfront community development. This partnership builds on Nakheel's existing relationship with Fibrex Contracting, which included collaborative work on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC). Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, "Our partnership with Fibrex Contracting marks a key milestone for Bay Villas, a landmark project that underscores our commitment to shaping Dubai's future through elevated spaces that residents can proudly call home. This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.' Sufyan S. Saleh, Group Managing Director at Fibrex Contracting, said, 'We are committed to delivering this flagship development on time, while adhering to the highest industry standards. Through advanced construction technologies, specialised in-house capabilities and our trusted supply chain network, we are well-equipped to bring this waterfront community to life.' Follow Emirates 24|7 on Google News.
Hi Dubai
17 hours ago
- Business
- Hi Dubai
Nakheel Awards AED2.6 Billion Bay Villas Contract to Fibrex Contracting
Nakheel, part of Dubai Holding Real Estate, has awarded a contract worth AED2.6 billion to Fibrex Contracting for the construction of Bay Villas, a new luxury waterfront community on the Dubai Islands. The project will feature 636 high-end residences across five property types, designed to combine privacy, wellbeing, and island living. Bay Villas is positioned as Nakheel's latest step in expanding its portfolio of waterfront communities in Dubai. The agreement extends the developer's partnership with Fibrex Contracting, which previously worked on District One West in Mohammed Bin Rashid Al Maktoum City. Khalid Al Malik, CEO of Dubai Holding Real Estate, said the development underscores Nakheel's commitment to shaping the city's future through elevated residential spaces. Sufyan S. Saleh, Group Managing Director at Fibrex Contracting, affirmed the company's focus on delivering the project on schedule while meeting the highest industry standards. News Source: Emirates News Agency
Gulf Today
01-07-2025
- Business
- Gulf Today
Dubai Holding to develop new projects at Palm Jebel Ali and d3
Dubai Holding and Select Group, a leading multi-discipline real estate development and investment group along with its long-standing JV partner Emirates Strategic Investments Company (ESIC), have entered a strategic agreement to develop landmark projects at two of the most iconic locations in Dubai, Palm Jebel Ali and Dubai Design District (d3). The milestone agreement marks Dubai Holding's first strategic land sale with a third-party developer at Palm Jebel Ali, underscoring its commitment to unlocking long-term value across its world-class master developments. This landmark transaction reinforces a shared vision to create dynamic communities that strengthen Dubai's position as a global destination of choice. Select Group will develop and deliver two transformative large-scale developments. At Palm Jebel Ali, the Group will create upscale residential and hospitality offerings that establish new benchmarks for luxury waterfront lifestyles in this world-class destination. Meanwhile, the d3 project will serve as a vibrant mixed-use community, seamlessly blending culture, innovation and contemporary urban living in one of Dubai's most creative hubs. Commenting on the partnership, Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, 'Palm Jebel Ali is an iconic development poised to elevate Dubai's global reputation as a premier waterfront destination. By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences. This partnership reaffirms our commitment to consolidating the emirate's position as a globally renowned lifestyle and investment destination.' Rahail Aslam, Chairman of Select Group, added, 'Dubai continues to cement its position as a global destination for investment, innovation, and quality living. This acquisition represents an important step in our ongoing strategy to deliver exceptional developments in key growth corridors. We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3 – two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.' In March, 2025 National Central Cooling Company (Tabreed) and Dubai Holding Investments, part of Dubai Holding, have entered a concession agreement to provide district cooling services for Palm Jebel Ali in Dubai. The agreement establishes a joint venture, with Tabreed holding a 51 per cent stake and Dubai Holding Investments 49 per cent. This structure is designed to optimise cooling capacity, enhance information-sharing and strengthen customer protection, while ensuring sustainable cooling solutions for one of Dubai's most transformative developments. Supported by Tabreed's major shareholders, sovereign investor Mubadala (42 per cent) and the French low-carbon energy and services company ENGIE (40 per cent), the agreement was signed by Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, in the presence of senior officials from Tabreed, Dubai Holding, Mubadala and ENGIE. Subject to customary approvals, construction of the district cooling network is expected to commence in Q2 2025, with the first cooling services expected to be delivered by 2027. Over time, the system will address the need for approximately 250,000 RTs of cooling capacity and require an estimated investment of Dhs1.5 billion. Following the signing, Dr. Bakheet Al Katheeri, Chairman of Tabreed and Chief Executive Officer of Mubadala's UAE Investments Platform, said, 'Mubadala has a worldwide reputation for being a responsible investor with an unwavering focus on its ESG framework and Tabreed is a vital part of our portfolio as a driver of sustainability and societal progress. The signing marks a major milestone in Tabreed's 27-year history and underscores the company's commitment to providing sustainable, high-efficiency cooling solutions for large-scale developments.' Karim commented, 'This agreement reinforces Dubai Holding's long-term vision of developing sustainable communities with high-quality infrastructure at their core. Palm Jebel Ali is one of Dubai's most ambitious developments and by incorporating district cooling services we support our customers and align to our commitment to deliver future-ready urban environments.' In turn, Al Marzooqi said, 'Palm Jebel Ali is a transformative project that will shape Dubai's future and we are proud to play a role in ensuring its infrastructure meets world-class standards.' Earlier in May 2025 Dubai Holding, a diversified global investment company with investments in more than 30 countries, has announced the launch of its Early Careers Programme, a future-focused initiative designed to attract, nurture and accelerate high-potential talent. WAM
Time of India
01-07-2025
- Business
- Time of India
Dubai's top developers announce plans to collaborate and transform Palm Jebel Ali and Dubai Design District
Dubai Holding and Select Group to develop luxury homes and creative spaces at Palm Jebel Ali and d3/Representative Image Dubai Holding has partnered with Select Group and Emirates Strategic Investments Company LLC (ESIC) to launch major residential and hospitality developments at Palm Jebel Ali and Dubai Design District (d3). The agreement marks Dubai Holding's first third-party land sale at Palm Jebel Ali and reflects a broader strategy to elevate Dubai's standing as a global destination for upscale waterfront living and design-forward urban spaces. New Waterfront Development at Palm Jebel Ali The collaboration will bring premium residential and hospitality offerings to Palm Jebel Ali, an iconic project spanning seven islands, 16 fronds, and offering over 90 kilometers of beachfront across 13.4 kilometers of land. The project will focus on: Mixed-use, walkable neighbourhoods Panoramic Arabian Gulf views Upscale hospitality and living experiences This landmark initiative will catalyze a new growth corridor in the Jebel Ali area, building on Dubai's vision of creating world-class coastal destinations. 'Palm Jebel Ali is an iconic development poised to elevate Dubai's global reputation as a premier waterfront destination,' said Khalid Al Malik, CEO of Dubai Holding Real Estate speaking to local news outlet, Khaleej Times. 'By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences,' he added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40분이면 끝! 이미지로 배우는 진짜 영어 스티븐영어 지금 시작하기 Undo Vibrant Mixed-Use Project in Dubai Design District (d3) In parallel, the partnership will also develop a major new project at Dubai Design District (d3). The upcoming development aims to create a vibrant, mixed-use community that blends: Culture Innovation Contemporary urban living The area is already recognized globally as a hub for creative talent and design professionals. With views of the Dubai skyline and Burj Khalifa, d3 stands out as Dubai's beacon for design innovation and has helped the city earn the title of UNESCO Creative City of Design, the first in the Middle East. 'We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3,' said Rahail Aslam, Chairman of Select Group. 'These are two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.' Design, Strategy, and Market Impact Design and planning for both Palm Jebel Ali and d3 projects are currently underway. Further details — including architectural designs, construction timelines, and unit specifics — will be announced in due course. This partnership extends Select Group's ongoing expansion into design-led, high-impact developments that cater to: A new generation of global residents Investors seeking immersive, luxury-driven environments Those looking for experiences that go beyond traditional luxury The group's past developments include: The Palm, Dubai Peninsula in Business Bay Six Senses Residences Dubai Marina These projects reflect a consistent track record of delivering premium developments with long-term investment value.
